- Chinese smartphone maker Xiaomi recorded sales of over 100 million smartphones in India as of August 2019, five years after its launch of operations in India, making it the first company to achieve the mark in the market ahead of tough competition such as Oppo and Vivo.
- The company headquartered in Beijing has three plants in India, through contract manufacturers Foxconn, HiPad and new partner Flex, which began production for the company a couple of months ago.
Chinese smartphone maker Xiaomi recorded sales of over 100 million smartphones in India as of August 2019, five years after its launch of operations in India, making it the first company to achieve the mark in the market ahead of tough competition such as Oppo and Vivo which entered the Indian market at almost the same time as of Xiaomi.
The company also claimed that Xiaomi is the largest in the Indian Smartphone maker segment for eight consecutive quarters now and it is the first one to achieve the milestone in any market globally.
“In any country, in any market across the world, no other brand has been able to sell over 100 million smartphones within five years, which is a great milestone,” said Manu Jain, vice president of Xiaomi.
“The biggest number that any other brand – some that existed before us and some that came to India after us that are now among the top five – was able to sell was 43 million, followed by third-largest at 30 million,” Jain added, while not naming the brands.
Source- Mi
The sales coming from both the online and offline market channel combined of the last five years show the huge growth of Xiaomi in both the segments where it has become the biggest player in the market by Volume, according to the IDC date in June. Xiaomi owns a share of 46.5 percent in online space and a 28.3 percent share of the offline market.
Make In India has come as a great push for the company’s local production which resulted in high figures, by rapidly increasing local production. The company headquartered in Beijing has three plants in India, through contract manufacturers Foxconn, HiPad and new partner Flex, which began production for the company a couple of months ago.
The third plant has pushed the production capacity to three phones per second. One a single eight-hour shift, this translates into an annual capacity of over 24 million smartphones.
Recently, Xiaomi became the youngest company on the Fortune Global 500 list for 2019, ranked 468th, with revenue of US$ 26,443.50 million and net profit of US$ 2,049.10 million in the previous fiscal year.
Xiaomi took the top place with a 28 percent share in the second quarter (Q2) of 2019. Overall smartphone shipments in India increased to 37 million units, setting a shipment record for the second quarter.
This comes as a piece of great news for the smartphone market and Xiaomi but as a warning for the competitors who need to up their game in order to stay relevant in the ever-growing Indian smartphone market.
